Orange dismissed reports it was preparing a counter offer for Masmovil, after a consortium of private investors made a €2.96 billion bid to acquire the Spanish operator earlier this week.
A representative told Mobile World Live Orange is “not contemplating” joining the hunt for Masmovil, denying a report by El Economista stating the operator’s board was discussing a move.
“Orange has a privileged position in the telecoms sector in Spain and has the support of the Orange group to continue growing organically in the country”, the representative said.
Earlier this week, Masmovil co-founder and CEO Meinrad Spenger revealed the board approved of a €2.96 billion bid [1] by a consortium comprised of Lorca Telecom BidCo, Cinven Capital Management and KKR Associates Europe, believing their proposal would benefit shareholders and stakeholders.
GSMA Intelligence figures placed Masmovil as Spain’s fourth-largest operator by connections at end-Q1, with 7.6 million. Orange Spain had 16.4 million, with Telefonica’s Movistar on 16.2 million and Vodafone Spain 13.5 million.
In 2019, Masmovil dismissed rumours it was mulling a takeover [2] of Vodafone Spain.
[1] https://www.mobileworldlive.com/featured-content/home-banner/masmovil-board-backs-e3b-takeover-bid/
[2] https://www.mobileworldlive.com/featured-content/top-three/vodafone-masmovil-rubbish-takeover-talks/
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